Did you know that most of the major credit reporting agencies are online now? In this article we will go over how to get your free credit report online.
Contrary to what the popular advertisements from the credit agencies impose, you don’t have to pay for your credit report. You can get it for free! There is a federal law that requires the credit reporting agencies to give citizens of the United States a free copy of their credit report once per year. One of the first things you need know is the difference between your credit score and your credit report.
Your credit report is the financial information the credit agencies have on file for you. Your reports will list all current debts, credit accounts, loans (including mortgage loans and car loans). Your report will also list bad debts, late payments, collection accounts, property leans, tax leans, etc. This is the credit report they must provide to you each year for free.
Your credit score on the other hand is a 3 digit number calculated based on past and current credit history. The credit bureaus rely on third party companies to compute and come up with this score. The credit score does not fall within regulations set forth by the federal government. Chances are you will have to pay to access your credit score. The score adjusts itself as your credit report evolves and reflects either your good habits or your bad.
So how to get your free credit report online if you’ve already gotten one within a given year? aha. There is also another federal regulation that allows consumers to have free access of their report. If you have been denied credit within a certain time frame (30 to 60 days usually) the agencies must give you access to your report.
I don’t recommend applying for credit with the sole purpose of getting denied – just to access your report for free. Inquiries to your credit report stay on file for 7 years and they can add up – so don’t do this! Think back over the past couple of months. If you have applied for credit within this time frame you will be able to access your credit report for free.
Both of these methods can be accessed online for the 3 major credit bureaus. These are two of the ways you can get your credit report for free online.
This is how to get your free credit report online! Good luck on your quest for financial information. ;o)
One Response to “How To Get Your Free Credit Report Online”
on May 19th, 2009 at 5:26 pm #
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